Chaikin Oscillator

The Chaikin Oscillator is formed by subtracting X-day exponential moving average from a Y-day exponential moving average of the accumulation/distribution line. Typical values of X and Y are (10, 3). The user may change the periods lengths. This indicator’s definition is further expressed in the condensed code given in the calculation below.

How To Trade Using the Chaikin Oscillator

No trading signals are calculated for this indicator

How To Access in MotiveWave

Go to the top menu, choose Study>Marc Chaikin>Chaikin Oscillator

or go to the top menu, choose Add Study, start typing in this study name until you see it appear in the list, click on the study name, click OK.

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Calculation

//period1 = user defined, default = 3
//period2 = user defined, default = 10
//index = current bar number

prev = ifNull(0, ADL[index-1]);
adl = prev + getVolume(index)*mfm(index);
ema1 = ema(index, period1, ADL);
ema2 = ema(index, period2, ADL);
Plot: co = ema1 - ema2;